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LVMH CEO Bernard Arnault briefly replaces Jeff Bezos as the richest man

Arnault finished the day with $109.3 billion to his name, compared with Bezos' $110.1 billion

IANS  |  San Francisco 

LVMH, Bernard Arnault
Chairman and CEO of Luxury goods group LVMH Bernard Arnault leaves after a news conference, to announce a deal to simplify Christian Dior business structure, in Paris, France

Bernard Arnault, Chief Executive Officer of French luxury conglomerate LVMH, claimed the title of the richest man on Earth with a net worth of $109.6 billion, for a brief period.

According to Forbes' Real Time Billionaire rankings, on Monday by 4 p.m. market close, stock had risen 0.7 per cent. Arnault finished the day with $109.3 billion to his name, compared with Bezos' $110.1 billion.

However, Arnault remains firmly ahead of Bill Gates ($107.8 billion), whom he passed for the number two spot on Friday. Last month, Arnault was able to slide into second place due to rising stock.

Shares have bounced around since Arnault struck a deal to acquire American jeweller Tiffany & Co on November 25.

Last month, Bill Gates once officially surpassed CEO as the richest person on Earth with a net worth of $110 billion.

The Microsoft co-founder had briefly topped Bezos as the richest man last month after Amazon's lacklustre third quarter results had Bezos losing nearly $7 billion in stock value.

First Published: Tue, December 17 2019. 18:16 IST
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